posted
Now most of you could give a chit, but I have lost more money in the last week then I have ever before.... Why you might be asking yourself??? Because I have lost track.. Broken rules, and ignored what I have learned... How did I do this? By not focusing on my picks and getting caught up on the other boards and not keepin my p's and q's... I find I make the most money when I play this board alone and find my own picks.. I found that I wasn't listening to myself and breaking my own rules.. In the end playin sloppy and playin picks just because a few ppl bought in and I thought they could go... I have learned that when you find yourself comin up short it might be just the simple fact that your not playin your own game.. So I am going back to my old style and playing it by the book.. I would like to thank all my fellow day tarders and hope we all make a mint.... Follow your rules and listen to yourself!
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual. Posts: 2201 | From: Tampa | Registered: Nov 2004
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posted
The outcome of everybody's trades are a result of their own choices. If you have a plan that works for you.
STICK TO IT!
But don't knock the fact that many of the 'picks' posted here by some traders are good for a short ride if that is allowed in your plan.
I for one hope that 'picks' are continued to be posted, since it gives me the opportunity to get information I otherwise would not have.
Whether or not I choose to trade on a 'pick' is up to me and no one else. If my choice helps makes me some money while helping someone else make money too...great! If I get burned...my bad. It's called day trading.
Good trading and have a nice day.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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posted
I agree stick to your strategy (assuming it has a rock solid foundation) but I wouldn't despair, the last month has been pretty tough for many traders--the market has sucked. If I didn't make a boatload on PLUG I would be in the red as well.
Today I played my own picks and followed my rules and I made money... I focused on the day trader's board only and focused on my alerts and filters.... Thanks for the support everyone! GLTA
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual. Posts: 2201 | From: Tampa | Registered: Nov 2004
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posted
Net, I have violated rule number 7, 8, 5, and 4... LOL
Oh well, as long as you admit your mistake, track your mistakes, and learn from it, and keep doing it... You'll be successful being day traders
-------------------- If you don't have a plan, click that little X at the top, and never trade again. Posts: 447 | From: Upstate, NY | Registered: Feb 2004
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posted
this is a list of rules I have printed on yellow and red paper.... I keep them in front of me at all times..
My Day Trading Rules
1. No trade will be made before 10.00 A.M. on any given day for any reason.
2. No trade will be funded for more then $1000.00 worth of shares.
3. No trade will be held over night no matter what the loss or gain.
4. No trade with a large spread will be bought.
5. DO NOT BE GREEDY
6. Sell when you feel the time is right.
7. Do not make any decision based on emotion or excitement.
8. Do not secound guess yourself.
9. Believe in yourself.
10. DO NOT BE GREEDY
Also I have another new rule that after I see 4 sells in a row I sell.... Hope this helps someone...
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual. Posts: 2201 | From: Tampa | Registered: Nov 2004
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posted
for me with pennies, enter the trade, put in your sell at the enter price, and be ready to pull the trigger if it goes south. I no longer wait and hope for it to turn back north....too much room to add losses. There will be another play to make it up on.
Don't be afraid to take a minimum loss. If it's going south, sell for minimum loss and move on. Don't wish, dream or pray for it to go your way. Sell and move on. (Not all trades will make money and move your way).
Good luck and make bank.... (above is MY way to play. It is not advise on HOW to play, just how I do. Find what works for YOU).
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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posted
Well here's the rules which I created for myself, that I did not follow and ended in three consecutive losts:
1) Plan everything out before buying ANYTHING
2) Prior to trade, plan out what's the maximum lost and win you're willing to do (for me, 15% max lost, and 30% max win... Whenever it hit any of those, I'm out of a stock) - number of shares you will buy and at what price - price at which you will sell the shares (if they go up) - the price at which you will sell the shares (if they go down) to cut your losses. - how long you will hold the shares if the price fails to move at all - at what price you may wish to add to or reduce your position.
3) Do not join in stocks that had extremely many buy and sells (too active)
4) Do not buy stocks that has many sells and less buys
5) Never fall asleep while market is open (which I did today and lost 800 bux)
4) Follow your plan no matter what the lost or win is.
5) Do not be greedy.
6) Do not keep it overnight no matter what the lost or win is.
7) Dont let your emotion controls you, a lost is a lost... Stop thinking that it will go up in matter of time, it never goes
8) Don't holding to a falling stock
Few more, but I forgot them...
I also have an excel file below if anyone wanta look at it... I made it, so that whenever I buy something, I know exactly what the price is at what percentage, so I can set it right away after buying it... And as well as to keep record of all my trades, so I can see what is my "salary" of daytrading at the end of the year... If anyone wanta use it, feels free to... Just erase my data, and put urs in... Click worksheet tabs at the bottom...
-------------------- If you don't have a plan, click that little X at the top, and never trade again. Posts: 447 | From: Upstate, NY | Registered: Feb 2004
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posted
sheesh, how could I forget the single most important thing for me....Never, Ever chase a stock north...if you put a buy in at ask, and it's moving faster than you can type your buy price, click cancel and move on....you were too slow and missed it. again, (above is MY way to play. It is not advise on HOW to play, just how I do. Find what works for YOU).
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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posted
The best advice I could offer anyone is to leave your emotions at the door. Displace fear with belief in your own ability.
Plan your trade, and trade your plan.
The moment you lose your own self discipline in this game, you will be punished. It's a strange thing, almost like there's some kind of score keeper watching over us... waiting for us to get a little too greedy.
It's also ups & downs, you won't win every day... nobody does. Just make sure you win more than you lose.
Good luck to all, I sincerely hope you have a profitable end to the week
-------------------- "I was bored before I even began." Posts: 88 | Registered: Apr 2005
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imakmony2005
unregistered
posted
GREED GOT YOU ALL,ITS THE ONE THING YOU ALL HAVE IN COMMON LOSE THE GREED.
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posted
Hello.....knock...knock.....imakmony2005, did you read any of the posts above???? I know I DIDN'T lose on any of the 'group plays'.....I guess you did.....be smart, and learn from above....watch the GOOD posters on allstocks and you'll make money too ....and learn to do YOUR OWN DD GLTA
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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posted
All the above are great rules, but I though I'd add some tips on picking stocks.
1) Never rely on someone elses pick
2) ALways do your own dd
3) Learn analysis tools a) Candlestick patterns b) Point and Figure Patterns c) Technical Indicators
4) Combine analyses above with news.
5) Watch Liquidity and L2 when making your trade.
6) If you are not a novice, and have margin accounts, remember you can make just as much money shorting a stock. Downward momentum can be really profitable, especially in this kind of market.
I'm sure there are more inbetween here and there, but I just want to emphasize the charting. The market's moves are the sum of everyone trading it. Group picks sometimes work because everyone is playing the same game. Well you can be sure that A LOT of people are watching the charts. And you dont need to pump to get them to buy, you are all buying on the same indicators.
posted
Marty im up to much to say, but you must not be, i just look watch and make my own picks you should try to do the smae you might start to make some.$$$$$$$$$$
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imakmony2005
unregistered
posted
o and sorry did not lose a dime on some group pick, is it time to get the dart board out to?????
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posted
Come on boyz and girlz.... This is not time to fight.. We are helpin eachother..... Great advice everyone... I don't think it is that we are greedy... its just a rule to keep us from becoming greedy...
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual. Posts: 2201 | From: Tampa | Registered: Nov 2004
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posted
Hahahaha!!! LOL.....thanks for the laugh....
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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imakmony2005
unregistered
posted
Im sure you need one just about now.your welcome and thing will pick up, just hang in there
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I have alot of time at work to watch the market. I have often wanted to do a couple of trade plays at work. However, Java Consoles are filtered here and I cannot get any type of streaming feed on the market.
So my question is, is it possible to pull a daytrade without any type of streamer? Just using Ameritrade's quick quote system? Thanks for your input.
Posts: 122 | From: Qatar | Registered: Nov 2004
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I focused on the day trader's board only and focused on my alerts and filters.... Thanks for the support everyone! ![[Wink]](wink.gif)
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